Davenport Equity Correlations

DEOPX Fund

USD 24.90 0.11 0.44%

The current 90-days correlation between Davenport Equity Opp and Small Pany Growth is 0.58 (i.e., Very weak diversification). The correlation of Davenport Equity is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Davenport Equity Correlation With Market

Very weak diversification

The correlation between Davenport Equity Opportunities and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davenport Equity Opportunities and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Davenport Equity Opportunities. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Davenport Mutual Fund

0.86	DSCPX	Davenport Small Cap	Pair Corr
0.78	DAVPX	Davenport E Fund	Pair Corr
0.85	DBALX	Davenport Balanced Income	Pair Corr
0.73	DBUYX	Davenport Insider Buying	Pair Corr
0.83	DVIPX	Davenport Value Income	Pair Corr
0.88	VIMAX	Vanguard Mid Cap	Pair Corr
0.89	VIMSX	Vanguard Mid Cap	Pair Corr
0.88	VMCPX	Vanguard Mid Cap	Pair Corr
0.88	VMCIX	Vanguard Mid Cap	Pair Corr
0.9	VEXAX	Vanguard Extended Market	Pair Corr
0.89	VEMPX	Vanguard Extended Market	Pair Corr
0.89	VIEIX	Vanguard Extended Market	Pair Corr
0.89	VSEMX	Vanguard Extended Market	Pair Corr
0.89	VEXMX	Vanguard Extended Market	Pair Corr
0.9	FSMAX	Fidelity Extended Market	Pair Corr
0.81	LIIAX	Columbia Porate Income	Pair Corr
0.78	SRINX	Columbia Porate Income	Pair Corr
0.7	WRHIX	Ivy High Income	Pair Corr
0.65	WHIAX	Ivy High Income	Pair Corr
0.66	IHIFX	Ivy High Income	Pair Corr
0.72	IVHIX	Ivy High Income	Pair Corr
0.62	ELBCX	Ashmore Emerging Markets	Pair Corr
0.72	OWMBX	Old Westbury Municipal	Pair Corr
0.77	LCRYX	Lord Abbett E	Pair Corr
0.65	MYSIX	Victory Trivalent	Pair Corr
0.62	VPRDX	Voya Morgan Stanley	Pair Corr
0.7	VGWLX	Vanguard Global Well	Pair Corr
0.65	JHIGX	John Hancock Interna	Pair Corr

Moving against Davenport Mutual Fund

0.75

RRPSX

Rising Rates Opportunity

Pair Corr

Related Correlations Analysis

	MSSGX	SLPAX	GLVIX	RYSVX	FRMPX	EPASX	ESCIX	OWSMX
MSSGX		0.19	0.64	0.17	0.45	0.3	0.59	0.22	MSSGX
SLPAX	0.19		-0.1	0.9	0.84	0.45	-0.23	0.94	SLPAX
GLVIX	0.64	-0.1		-0.26	0.09	0.44	0.81	0.08	GLVIX
RYSVX	0.17	0.9	-0.26		0.84	0.22	-0.38	0.79	RYSVX
FRMPX	0.45	0.84	0.09	0.84		0.15	-0.14	0.72	FRMPX
EPASX	0.3	0.45	0.44	0.22	0.15		0.5	0.67	EPASX
ESCIX	0.59	-0.23	0.81	-0.38	-0.14	0.5		-0.03	ESCIX
OWSMX	0.22	0.94	0.08	0.79	0.72	0.67	-0.03		OWSMX
	MSSGX	SLPAX	GLVIX	RYSVX	FRMPX	EPASX	ESCIX	OWSMX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

OWSMX	+ 0.94	SLPAX
RYSVX	+ 0.9	SLPAX
FRMPX	+ 0.84	SLPAX
FRMPX	+ 0.84	RYSVX
ESCIX	+ 0.81	GLVIX
OWSMX	+ 0.79	RYSVX

High negative correlations

ESCIX	- 0.38	RYSVX
RYSVX	- 0.26	GLVIX
ESCIX	- 0.23	SLPAX
ESCIX	- 0.14	FRMPX
GLVIX	- 0.1	SLPAX
OWSMX	- 0.03	ESCIX

Risk-Adjusted Indicators

There is a big difference between Davenport Mutual Fund performing well and Davenport Equity Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Davenport Equity's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSSGX	1.63	0.11	0.06	0.12	1.87	(1.92)	3.70	(2.85)	10.79
SLPAX	0.77	(0.10)	0.00	(0.12)	0.00	0.00	1.61	(1.47)	7.14
GLVIX	0.74	0.09	0.09	0.18	0.82	(0.81)	1.37	(1.18)	5.20
RYSVX	0.86	(0.10)	0.00	(0.12)	0.00	0.00	1.64	(1.83)	6.24
FRMPX	0.95	(0.07)	0.00	(0.07)	0.00	0.00	1.86	(1.65)	6.29
EPASX	0.44	0.00	0.00	0.04	0.51	(0.47)	0.96	(0.73)	2.69
ESCIX	0.66	0.05	0.05	0.24	0.85	(0.71)	1.22	(1.34)	3.53
OWSMX	0.56	(0.05)	0.00	(0.10)	0.00	0.00	1.05	(1.33)	4.10

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